Euro Down on Anticipations of ECB Stimulus

At 12:31 Beirut time, the Euro was quoted at €/$ 1.0888, the equivalent of €/LBP 1,641.37, depreciating by 0.01% against the US Dollar.

The euro fell against the dollar today ahead of Mario Draghi’s speech tomorrow where he will announce whether or not further monetary stimulus will be carried out.

Locally, the Lebanese Pound steadied against the Dollar moving in the range of $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound improved as reflected by the NEER, published by BLOMINVEST, which increased by 0.14% to 169.51 points today.

Leave a Reply

Your email address will not be published. Required fields are marked *